Podcast Show #59

The Boiling Frogs Presents Bill Bergman

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Bill Bergman joins us to discuss compelling financial irregularities and cases involving pre-9/11 money transfers, suspicious activity reporting, and informed securities trading, all of which remain uninvestigated and unanswered to date. He provides us with his analyses of the extraordinary surge in currency shipments and significant increase in the number of suspicious activity reports filed by financial institutions in the summer of 2001, the long history of currency shipments in U.S. covert operations, documented false statements and conclusions by the 9/11 Commission regarding the National Money Laundering Strategy Report from the Department of the Treasury in 2001, and the performance of the ‘market fear index’ in the weeks before 9/11. Mr. Bergman discusses obstacles and climate of fear faced by public servants, the city of Chicago as the major hub for money laundering, narcotics and corruption, and more!

Bill BergmanBill Bergman has 10 years of experience as a stock market analyst sandwiched around 13 years as an economist and financial markets policy analyst at the Federal Reserve Bank of Chicago. He earned an M.B.A. as well as an M.A. in Public Policy from the University of Chicago in 1990. His research work at the Fed included writing the Chicago Fed contribution to the Federal Reserve “beige book.” Some recent issue areas he has worked on include the implications national emergency and war powers pose for the Federal Reserve, money laundering, and wholesale payment system design, risk, performance and pricing. Mr. Bergman is currently working with Social Movement Sciences LLC, a new enterprise developing evaluation and funding services for not-for-profit organizations.


Here is our guest Bill Bergman unplugged!

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  1. Nice job, Mr. Bergman. It’s good to know there are people like you out there. Seems like you would be a good fit for the new investigation being called for by Bob Graham and Michael Moore.

    Thank you for having a backbone and speaking out!

  2. avatar Bill Bergman says:

    Thank you, Xicha.

  3. Here’s a link to the latest Juice Media Rap News, pertaining to the economy and featuring Ron Paul and Peter Joseph:

  4. The Banks

    Bank of America has been sued over $30.85 billion in losses on securities.
    Goldman Sachs has been sued over losses on $11.1 billion in securities.
    Barclays has been sued for $4.9 billion in losses on securities.
    UBS has been sued for over $900 million in losses on securities.
    Nomura for over $2 billion in losses on securities.
    Credit Suisse has now been sued, too.
    Citigroup has been sued over losses totaling $3.5 billion in losses on securities.
    Deutsche Bank has been sued for $14.2 billion in losses on securities.
    JPMorgan has been sued for losses on $33 billion worth of securities.
    First Horizon sued. (Memphis, Tenn.)
    General Electric sued.
    Ally Financial sued. (GMAC Detroit)
    HSBC (London) has been sued over losses on $6.2 billion worth of securities.
    Morgan Stanley has been sued over losses on $10.58 billion in Certificates issued in connection with 33 securitizations underwritten by the firm or its entities.

    Goldman Sachs, Deutsche Bank, Morgan Stanley, and Bank of America subsidiary Merril Lynch have also been sued for fraud for making “false and/or misleading statements” about the securities and the underlying loans. The Federal Housing Finance Agency (FHFA) has asked for unspecified punitive damages against the companies.

    Names:

    Bank of America:
    GEORGE C. CARP
    ROBERT CARUSO
    GEORGE E. ELLISON
    ADAM D. GLASSNER
    DANIEL B. GOODWIN
    JULIANA JOHNSON
    AASHISH KAMAT
    MICHAEL J. KULA
    JAMES H. LUTHER
    WILLIAM L. MAXWELL
    MARK I. RYAN
    ANTOINE SCHETRITT

    Goldman Sachs:
    PETER C. ABERG
    HOWARD S. ALTARESC
    ROBERT J. CHRISTIE
    KEVIN GASVODA
    MICHELLE GILL
    DAVID J. ROSENBLUM
    JONATHAN S. SOBEL
    DANIEL L. SPARKS
    MARK WEISS

    Citi Bank:
    SUSAN MILLS
    RANDALL COSTA
    SCOTT FREIDENRICH
    RICHARD A. ISENBERG
    MARK I. TSESARSKY
    PETER PATRICOLA
    JEFFREY PERLOWITZ
    EVELYN ECHEVARRI

    Morgan Stanley:
    GAIL P. MCDONNELL
    HOWARD HUBLER
    CRAIG S. PHILLIPS
    ALEXANDER C. FRANK
    DAVID R. WARREN
    JOHN E. WESTERFIELD
    STEVEN S. STERN
    Barclays:
    MICHAEL WADE
    JOHN CARROLL
    PAUL MENEFEE

    Countrywide (U.K. Mortgage services):
    JOSHUA ADLER
    THOMAS H. BOONE
    JEFFREY P. GROGIN
    RANJIT KRIPALANI
    STANFORD KURLAND
    THOMAS KEITH MCLAUGHLIN
    JENNIFER S. SANDEFUR
    ERIC SIERACKI
    DAVID A. SPECTOR

    Credit Suisse:
    ANDREW A. KIMURA
    JEFFREY A. ALTABEF
    EVELYN ECHEVARRIA
    MICHAEL A. MARRIOTT
    ZEV KINDLER
    JOHN P. GRAHAM
    THOMAS E. SIEGLER
    THOMAS ZINGALLI
    CARLOS ONIS
    STEVEN L. KANTOR
    JOSEPH M. DONOVAN
    JULIANA JOHNSON
    GREG RICHTER

    Deutsche Bank:
    DOUGLAS K. JOHNSON
    EVELYN ECHEVARRIA
    JULIANA C. JOHNSON

    JPMorgan:
    DAVID M. DUZYK
    LOUIS SCHIOPPO, JR.
    CHRISTINE E. COLE
    EDWIN F. MCMICHAEL
    WILLIAM A. KING
    BRIAN BERNARD
    MATTHEW E. PERKINS
    JOSEPH T. JURKOWSKI, JR.
    SAMUEL L. MOLINARO, JR.
    THOMAS F. MARANO
    KIM LUTTHANS
    KATHERINE GARNIEWSKI
    JEFFREY MAYER
    JEFFREY L. VERSCHLEISER
    MICHAEL B. NIERENBERG
    RICHARD CAREAGA
    DAVID BECK
    DIANE NOVAK
    THOMAS GREEN
    ROLLAND JURGENS
    THOMAS G. LEHMANN
    STEPHEN FORTUNATO
    DONALD WILHELM
    MICHAEL J. KULA
    CRAIG S. DAVIS
    MARC K. MALONE
    MICHAEL L. PARKER
    MEGAN M. DAVIDSON
    DAVID H. ZIELKE
    THOMAS W. CASEY
    JOHN F. ROBINSON
    KEITH JOHNSON
    SUZANNE KRAHLING
    LARRY BREITBARTH
    MARANGAL I. DOMINGO
    TROY A. GOTSCHALL
    ART DEN HEYER
    STEPHEN LOBO

    Merrill Lynch:
    MATTHEW WHALEN
    BRIAN T. SULLIVAN
    MICHAEL M. MCGOVERN
    DONALD J. PUGLISIS
    PAUL PARK
    DONALD C. HAN

    Nomura (Tokyo):
    DAVID FINDLAY
    JOHN MCCARTHY
    JOHN P. GRAHAM
    NATHAN GORIN
    N. DANTE LAROCCA

    RBS (Royal Bank of Scotland):
    JOSEPH N. WALSH III
    CAROL P. MATHIS
    ROBERT J. MCGINNIS
    JOHN C. ANDERSON
    JAMES ESPOSITO

    Socgen (Societe Generale):
    ARNAUD DENIS
    ABNER FIGUEROA
    TONY TUSI
    ORLANDO FIGUEROA

    FHFA Sues UBS to Recover Losses to Fannie Mae and Freddie Mac. Washington, DC.

    “Bank of America has more home foreclosures than any other bank in Boston. They have the largest number of foreclosed properties in the country, and the worst record of modifying mortgages,” says Mr. German. “Some of the hardest hit areas in the country are around Boston, including the Roxbury, Dorchester, East Boston and, Chelsea” neighborhoods.

    Called Occupy Wall Street, the infant movement is tapping into broad frustration and even anger about big corporate profits, tax breaks for the rich, corporate lobbying in Congress, and bank bailouts at a time when the poor and middle class are losing ground in a generally sour economy.
    “It really speaks to everyone getting fed up and tired of these corporations taking every bit of money we’ve worked so hard for,” says Brandon German, a protest organizer with Right to the City, an alliance of community groups that helped organize an Occupy Wall Street rally in Boston on Friday. “People are fed up and mobilizing.”
    In all, “Occupy” protests have taken place or are planned in more than 50 cities from San Francisco to Portland, Maine, according to the website occupytogether.org, which is serving as an unofficial organizing hub for the protests. Some are big events. More than 700 people were arrested Saturday when protestors marched across the Brooklyn Bridge. Some are small. In Chicago, about 30 protesters beat drums in the city’s financial district Monday. But by attracting such a broad array of supporters — with a host of different causes — can the protests spark a movement coalesced around a specific message?
    JPMorgan Chase, one of the giant banks that Occupy Wall Street is protesting against, gave $4.6 million to the NYPD to fund new laptops in patrol cars.

    Monday, October 3: The nation’s most populous state has decided to reject the Obama administration’s proposed settlement with large banks over their handling of mortgage foreclosures.

    California’s state attorney general, Kamala Harris, said this week that a proposed settlement between her legal counterparts in other states, the Obama administration and several national banks is “inadequate” and “not the deal California homeowners have been waiting for.”

    The deal would settle lawsuits filed over improper foreclosure practices employed by Bank of America, Wells Fargo, JPMorgan Chase and other institutions. What has upset Harris and other attorneys general, including Eric Schneidrman of New York, unhappy with the direction of negotiations, is the insistence by banks—and the Obama administration— that they receive a broad legal waiver that frees them from future litigation stemming from mortgage troubles and the creation of mortgage securities before the financial crisis.

    Harris is conducting her own investigation into the creation and sale of mortgage securities, and it refusing to give up possible legal action against banks just to settle the foreclosure controversies.

    But now, Obama’s new banking and securities reforms, albeit weak, give regulators new enforcement powers and provide an extra independent eye on stock market shenanigans. For Langone, picking the president means closing the regulatory eye.

    Paul Singer (born August 22, 1944) is the founder and CEO of hedge fund Elliot Management Corporation and The Paul E. Singer Family Foundation.

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